LONDON: Brave Bison, the digital media, marketing and technology company, has entered into a binding agreement to acquire entire issued share capital of Builtvisible Holdings Limited for a total consideration of up to £3.5 million.
Builtvisible was established in 2009 and has grown into a leading performance marketing agency specialising in organic performance strategies through the use of search engine optimisation to drive outcomes for clients including Aviva, Avis, Icelandair, Specsavers and Very Group.
Builtvisible will be integrated with Brave Bison’s existing performance marketing and digital media operations, bolstering the Group’s existing capabilities with an additional 35 professionals.
The total cash consideration for the Acquisition is up to £3.0 million, with initial consideration of £1.5 million payable on completion, deferred consideration of £1.0 million payable in tranches over 18 months from completion and contingent consideration of £0.5 million payable subject to performance conditions.
In addition, members of Builtvisible leadership have been granted restricted equity consideration in the form of nil-paid options to acquire 20,850,000 new ordinary shares in the Company (the “Equity Awards”). The Equity Awards will vest on the third anniversary of completion of the Acquisition in 2028, subject to achievement of performance conditions and continued employment with the Group. The Equity Awards are worth approximately £0.5 million based on the current Brave Bison share price of 2.6 pence.
Builtvisible generated £4.1 million of revenue and £0.3 million of Adj. EBITDA in the 12 months ending 31 December 2024 and had unaudited net assets of -£0.5 million at the period end. The Acquisition is expected to be accretive in the current financial year.
Oliver Green, Chairman, commented: “I’m delighted to welcome Geoff, Rebecca and the entire Builtvisible team to Brave Bison. Artificial intelligence is changing the way all of us discover and buy products online, making digital media buying even more complex. Builtvisible, and the wider Brave Bison, are here to help clients capitalise on this complexity with our technology-enabled approach to service delivery.
Brave Bison has now completed two transactions in 2025, following the acquisition of sports marketing agency Engage Digital Partners in January 2025, and we have the pipeline and balance sheet to take advantage of further opportunities”.